Absci Shares Rise 27% on Report of $20 Mln Investment from Advanced Micro Devices
Shares of Absci on Wednesday jumped following a report on a $20 million investment from Advanced Micro Devices. The stock was up 27% to $3.89 in pre-market trading. Through Tuesday's close, shares have fallen 25% over the past 12 months.
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Chip maker AMD is investing $20 million in AI drug startup Absci, which will use AMD chips and software for drug development.
Advanced Micro Devices shares fell Wednesday after HSBC analysts gave the stock a double downgrade, citing concerns about its artificial intelligence revenue.
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